GHGSat, a Montréal-based provider of emissions monitoring services, has raised $3.3 million of funding from Sustainable Development Technology Canada (SDTC).
GHGSat is focused on remote sensing of greenhouse gas and air quality gas emissions from industrial sites.
The funds raised will support a study in British Columbia’s Montney region to compare emissions data collected by terrestrial sensors to GHGSat’s satellite and aircraft measurements. Field operations will begin in 2020.
Last year, GHGSat closed a US$10 million Series A2 round led by OGCI Climate Investments and joined by Schlumberger, Space Angels and Business Development Bank of Canada (BDC).
GHGSat Awarded $3.3M Funding Agreement With SDTC to Study Emissions From Oil & Gas Operations in the Montney Region of BC
The 33-month project will compare emissions data collected by terrestrial sensors to GHGSat’s combined satellite and aircraft measurements.
MONTREAL, August 20, 2019 (Newswire.com) – GHGSat, a company providing global emissions monitoring services, today announced a CAD $3.3M funding agreement from Sustainable Development Technology Canada (SDTC) to provide emissions measurements of oil and gas facilities in the Montney region of BC. The project’s primary objective is to demonstrate that a tiered monitoring system using GHGSat’s satellites and aircraft instruments can detect more leaks quicker and at a lower cost than the regulatory standard, based on optical gas imaging cameras.
The project, which has a total value of CAD $9.8M, will have field operations beginning in early 2020. Measurements will be conducted using GHGSat’s newest satellite platform, (GHGSat-C1, or “Iris”) in combination with an aircraft-mounted sensor that GHGSat has in development.
“GHGSat understands the need for globally standardized technology to quantify GHG emissions from industrialized facilities. Their innovative satellites can reduce monitoring costs in the oil sands by over 50%. More frequent and accurate reporting better informs the industry on where and how to reduce GHG emissions. SDTC is proud to invest in GHGSat as it develops a solution to help reduce GHG emissions from industrialized sites.” -Zoe Kolbuc, Vice-President, Partnerships, Sustainable Development Technology Canada.
“These funds will allow GHGSat to demonstrate to regulators that our technology can offer accurate and more frequent measurements, enabling industrial operators to identify and repair leaks faster, all for lower cost than conventional methods,” said Stéphane Germain, CEO of GHGSat. “We’re very excited to be partnering with SDTC again for this next stage of our growth.”
GHGSat is the first and only private company to own and operate high-resolution satellites designed to measure greenhouse gas emissions from industrial facilities around the world.
About GHGSat: GHGSat’s vision is to become the global reference for remote sensing of greenhouse gas (GHG) and air quality gas emissions from industrial sites, using satellite and aircraft technology.
GHGSat’s novel technology enables GHG and air quality gas measurement with better accuracy at a fraction of the cost of comparable alternatives. GHGSat analytics provide actionable insights and solutions based on this unique data. Owners of industrial facilities can monitor all of their facilities, local or remote, anywhere in the world, with a common technology. Significantly improved emissions information enables industrial operators to better measure, control and, ultimately, reduce emissions of GHGs and air quality gases.
To learn more about GHGSat, please visit www.ghgsat.com.
About Sustainable Development Technology Canada: Sustainable Development Technology Canada (SDTC) is a foundation created by the Government of Canada to advance clean technology innovation in Canada by funding and supporting small and medium-sized enterprises developing and demonstrating clean technology solutions.
Adam Pinsky, GHGSat Inc.
Tel: (438) firstname.lastname@example.org